VIENNA, Va., Feb. 14 /PRNewswire-FirstCall/ -- CEL-SCI CORPORATION reports financial results for the first quarter fiscal year 2007, ending December 31, 2006.
Highlights: -- Net loss for the three months ending December 31, 2006 was approximately $1.1 million compared with an operating loss of approximately $1 million during the quarter ending December 31, 2005. -- The net loss per common share remained at $0.01 during the quarter ending December 31, 2006, the same as the net loss per common share of $0.01 for the quarter ending December 31, 2005. -- During the three-month period ended December 31, 2006, research and development expenses increased by $71,269 compared to the three-month period ended December 31, 2005. -- During the three-month period ended December 31, 2006, general and administrative expenses increased by $479,668 compared to the three- month period ended December 31, 2005.
CEL-SCI Corporation is developing new immune system based treatments for cancer and infectious diseases. The Company has operations in Vienna, Virginia and Baltimore, Maryland.
CEL-SCI CORPORATION ------------------- CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS --------------------------- (unaudited) Three Months Ended December 31, 2006 2005 REVENUE: Grant revenue $13,862 $23,757 Rent income 6,090 6,090 Other income 841 - Total Revenue 20,793 29,847 EXPENSES: Research and development, excluding depreciation of $20,493 and $18,511 included below 506,158 434,889 Depreciation and amortization 41,842 43,790 General and administrative 1,052,704 573,036 Total Expenses 1,600,704 1,051,715 LOSS FROM OPERATIONS (1,579,911) (1,021,868) GAIN ON DERIVATIVE INSTRUMENTS 719,247 13,337 INTEREST INCOME 95,551 11,404 INTEREST EXPENSE (347,246) - NET LOSS BEFORE INCOME TAXES (1,112,359) (997,127) INCOME TAX PROVISION - - NET LOSS $(1,112,359) $(997,127) NET LOSS PER COMMON SHARE (BASIC) $(0.01) $(0.01) NET LOSS PER COMMON SHARE (DILUTED) $(0.01) $(0.01) WEIGHTED AVERAGE COMMON SHARES OUTSTANDING 82,928,432 74,998,621
CEL-SCI Corporation
CONTACT: Gavin de Windt of CEL-SCI Corporation, +1-703-506-9460
Web site: http://www.cel-sci.com/
